Discounts and Markups

Front

What is a discount?

Back

A discount is a reduction in the original price of a product or service, often expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price × Discount Rate)

Front

What is a markup?

Back

A markup is an increase in the original price of a product or service, often expressed as a percentage.

Front

How do you calculate the total price after a markup?

Back

Total Price = Original Price + (Original Price × Markup Rate)

Front

If a video game costs $59.99 and the sales tax is 8.3%, how do you find the total price?

Back

Total Price = Original Price + (Original Price × Sales Tax Rate) = $59.99 + ($59.99 × 0.083) = $64.97.

Front

What is the formula to find the final price after applying a discount?

Back

Final Price = Original Price × (1 - Discount Rate)

Front

If a book costs $4.25 and has a 30% markup, what is the selling price?

Back

Selling Price = Original Price + (Original Price × Markup Rate) = $4.25 + ($4.25 × 0.30) = $5.53.

Front

What is the total price of a $5 box of cereal with a 40% discount?

Back

Sale Price = Original Price × (1 - Discount Rate) = $5 × (1 - 0.40) = $3.00.

Front

How do you calculate the amount of discount received?

Back

Discount Amount = Original Price × Discount Rate

Front

If a board game costs $12.33 and is marked up by 35%, what is the total price?

Back

Total Price = Original Price + (Original Price × Markup Rate) = $12.33 + ($12.33 × 0.35) = $16.65.